Meat - Mexico

Mexico

Revenue in the Meat market amounts to US$56.98bn in 2024. The market is expected to grow annually by 6.12% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$440.40 are generated in 2024.
In the Meat market, volume is expected to amount to 8,787.00m kg by 2029. The Meat market is expected to show a volume growth of 3.3% in 2025.
The average volume per person in the Meat market is expected to amount to 59.8kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

Market

Region

Region comparison

Currency

Analyst Opinion

The Meat Market in The Food market of Mexico is experiencing minimal growth due to factors such as increased competition from processed and meat substitute sub-markets, as well as consumer preference for fresher, healthier options. This slow growth may also be impacted by rising health concerns and the convenience of alternative protein sources. Despite these challenges, the Meat Market continues to play a significant role in the overall Food Market in Mexico.

Customer preferences: As consumer awareness of the environmental impact of meat production grows, there has been a notable increase in demand for sustainable and ethically sourced meat. This trend is particularly prominent among younger consumers, who are more conscious of their food choices and the impact it has on the planet. In addition, there has been a rise in demand for plant-based meat alternatives, driven by health and environmental concerns as well as the growing popularity of vegetarian and vegan diets. This shift towards more conscious and ethical consumption is expected to continue shaping the Meat Market within The Food market in Mexico.

Trends in the market: In Mexico, the Meat Market within The Food market industry is experiencing a shift towards more sustainable and ethical practices. This trend is driven by consumer demand for transparency and responsible sourcing. Industry stakeholders are adopting strategies such as reducing meat consumption and partnering with local farmers to source organic and free-range meats. This trajectory is significant as it aligns with global efforts towards sustainable food production and has the potential to improve animal welfare standards. However, it may lead to higher prices for consumers and require significant changes in supply chain management for industry players.

Local special circumstances: In Mexico, the Meat Market within The Food market is heavily influenced by cultural traditions and preferences. The country has a strong meat-eating culture, with a preference for locally sourced and freshly prepared meats. This has led to the rise of numerous small-scale, family-owned butcher shops and meat markets, which cater to the unique tastes of the local population. Additionally, the country's geographical location and access to a diverse range of livestock have also played a significant role in shaping the meat market, with a wide variety of meats, such as beef, pork, and chicken, being readily available. Furthermore, government regulations and policies, such as import and export restrictions, also have a significant impact on the dynamics of the Meat Market within The Food market in Mexico.

Underlying macroeconomic factors: The Meat Market within The Food market in Mexico is heavily influenced by macroeconomic factors such as the country's economic growth, consumer spending power, and government policies. As the second largest economy in Latin America, Mexico has a strong and stable economy, which has positively impacted the market for meat products. Additionally, the country's growing population and increasing disposable income have led to a rise in demand for meat, especially from the middle and upper classes. The government's initiatives to promote domestic production and reduce imports have also contributed to the growth of the market. However, fluctuations in exchange rates and trade policies can significantly affect the market's performance. Moreover, the recent economic downturn caused by the COVID-19 pandemic has resulted in reduced consumer spending and disrupted supply chains, posing challenges to the market's growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.